Alternative Dynamics and Stability Results in a Standard OLG Model: An Interpretation

dc.creator	César L. Guerrero Luchtenberg
dc.date	2004
dc.date.accessioned	2022-03-22T16:07:33Z
dc.date.available	2022-03-22T16:07:33Z
dc.identifier	http://www.redalyc.org/articulo.oa?id=32313203
dc.identifier.uri	http://biblioteca-repositorio.clacso.edu.ar/handle/CLACSO/82846
dc.description	In this paper we make a critique of the standard stability results already established in a basic two period OLG model. Under an alternative interpretation (competitive financial markets), we are able to select the test equilibrium in the long run, in such a way that the economy can reach the Golden Rule Steady State, even when at this interest rate, all young agents are creditors. We show that even if the economy starts with only young people referred to as the Garden of Eden Economy , it also reaches the Golden Rule Steady State. Additionally, as a by-product of this study, we obtain a complete characterization of the possible equilibria.
dc.format	application/pdf
dc.language	en
dc.publisher	Centro de Investigación y Docencia Económicas, A.C.
dc.relation	http://www.redalyc.org/revista.oa?id=323
dc.rights	Economía Mexicana. Nueva Época
dc.source	Economía Mexicana. Nueva Época (México) Num.2 Vol.XIII
dc.subject	Economía y Finanzas
dc.subject	OLG models
dc.subject	selection of equilibria
dc.subject	Golden Rule Steady State
dc.subject	Samuelson Case
dc.subject	Garden of Eden Economy
dc.title	Alternative Dynamics and Stability Results in a Standard OLG Model: An Interpretation
dc.type	artículo científico